A Note on the Equivalence of Rationalizability Concepts in Generalized Nice Games

Alexander Zimper

No 04-03, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: Moulin (1984) describes the class of nice games for which the solution concept of point-rationalizability coincides with iterated elimination of strongly dominated strategies. As a consequence nice games have the desirable property that all rationalizability concepts determine the same strategic solution. However, nice games are characterized by rather strong assumptions. For example, only single-valued best responses are admitted and the individual strategy sets have to be convex and compact subsets of the real line R1. This note shows that equivalence of all rationalizability concepts can be extended to multi-valued best response correspondences. The surprising finding is that equivalence does not hold for individual strategy sets that are compact and convex subsets of Rn with n>1.

Pages: 7 pages
Date: 2004-02-06
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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Related works:
Journal Article: A NOTE ON THE EQUIVALENCE OF RATIONALIZABILITY CONCEPTS IN GENERALIZED NICE GAMES (2006)
Working Paper: A note on the equivalence of rationalizability concepts in generalized nice games (2004)
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